Romney, Obama react to fiscal cliff report
August 22nd, 2012
01:52 PM ET

Romney, Obama react to fiscal cliff report

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(CNN) – A Congressional Budget Office report released Wednesday on the potentially dismal impact of the impending "fiscal cliff" prompted finger pointing from both parties, not surprisingly, blaming each other.

The White House placed blame for a gloomy economic outlook on Congressional Republicans and Mitt Romney, the presumptive GOP presidential nominee, named President Barack Obama as the instigator of high projected deficits.

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soundoff (62 Responses)
  1. demwit

    Romeny: Its Obama's fault.
    Obama: Its Bush's fault.

    August 22, 2012 at 2:17 pm |
    • Howard

      DISCOVER THE TRUTH ... SEE 2016 OBAMA'S AMERICA !!!

      August 22, 2012 at 2:19 pm |
      • Cynthia L.

        Don't Roof Rack Me, Bro.

        August 22, 2012 at 4:36 pm |
      • Frank Marshall Davis

        Lefties will never watch it, they despise truth.

        August 22, 2012 at 4:39 pm |
      • jean2009

        Lefties won't watch it because we are intelligent enough not to be spoon feed a pack of lies.

        August 22, 2012 at 7:52 pm |
    • joamerica

      We've passed the tipping point where a majority of voters have their fingers in the public cookie jar in one form or another. People don't vote against their own selfish interests or their own bank accounts. Socialism has spread to the lungs and brain.

      Our country can not take in enough revenue to cover all the programs and gimmes that the government dishes out. We are headed for disaster.

      August 22, 2012 at 6:02 pm |
    • adventure49

      It is not President Obama's fault until Congress gives him a bill to sign. Then he gets to make his decision and either sight it or veto it.

      August 23, 2012 at 11:07 am |
    • DM

      Blame the GOP and democrats for poor choices over many decades. However, it is certainly clear Obama made them worse (after he blasted Bush continuously for deficits and debt).

      August 23, 2012 at 11:17 am |
  2. Steveo

    So Mitt Romney's the blame but Obama had been in DC for 3.5 years? No budget in years (unless you consider that $3.7 Triilion monster, that his own party rejected, a budget). Bush's fault (gone for almost 4 years ) and Romney's fault (NEVER been elected) but not Obama's fault in ANY WAY? Really? But he promised to go line by line and take a scalpel to the "budget". He promised!

    August 22, 2012 at 2:21 pm |
    • bb

      I agree, he also stated transparent gov I guess that didnt include fast and furious, ill cut defict in half or wont run again i say man up and get him out of the whitehouse

      August 22, 2012 at 3:07 pm |
      • Lizzie

        Has any democrat ever done what he promised??? Yes, Pres.Obama I will change America ( to faster become a third world country)

        August 22, 2012 at 7:04 pm |
    • DEcember 2012

      SO LET ME ASK, DID THE DEFICIT JUST SUDDENLY APPEAR AFTER OBAMA TOOK OFFICE? AFTER THE FINANCIAL CRASH, WHAT HAPPENED? DID OBAMA JUST DECIDED TO SPEND MONEY FOR NO APPARENT REASON? DID HE START ANOTHER WAR WITH ANOTHER MIDDLE EASTERN COUNTRY? YOU CAN'T EXPLAIN IT, MITT ROMNEY CAN'T EXPLAIN IT. HE'S BEEN TRYING TO BLAME OBAMA FOR THE ECONOMY SINCE DAY 1 BUT HE STILL CAN'T WIN AND HE NEVER WILL.

      August 22, 2012 at 3:08 pm |
      • Steveo

        Dude your hyperventilating! SOMEBODY GOT A PAPER BAG FOR DECEMEBER?

        August 22, 2012 at 3:14 pm |
      • Steveo

        Even paul Ryan said Obama inherited a bag! I agree but that bag is getting bigger and bigger! AND YOU KNOW IT!

        August 22, 2012 at 3:16 pm |
      • Howard

        Obama studied constitutional law ... then became President, where, like all Presidents before him, he swore an oath to uphold and defend the constitution ... only to use his constitutional knowledge as a tool to work around it, and disrespect it, numerous times. Obama has ignored the constitution, in a desperate attempt to hold onto his power ... at any cost ... and change America into something which is not American.

        August 22, 2012 at 3:46 pm |
      • DEcember 2012

        HOW NICE OF PAUL FOR STATING THE OBVIOUS. I GUESS HE COULDN'T REALLY LIE ABOUT THAT.

        SO SPENDING IS GROWING? AND YOU BLAME OBAMA? WHO'S GOT THE PURSE IN THE COUNTRY? IT'S THE SAME IDIOTS IN CONGRESS WHO CANNOT AGREE ON ANYTHING. WHEN THE REPUBLICANS BECAME THE REPUBLITARDS, COMPROMISE BECAME NO LONGER POSSIBLE. THOSE ARE THE FACTS.

        August 22, 2012 at 3:47 pm |
      • Steveo

        Once more! We were promised the deficit would be halved! Correct? Who made that promise? President Obama, Correct? What did we get instead? a $3.7T "budget". Correct? NO PLAN AND NO BUDGET! Correct?

        August 22, 2012 at 4:06 pm |
      • bb

        Dude your boy is the one who stated that. those are quotes, HOPE he loses & we need to CHANGE preses.
        This cat in white house has just STUNK one vile lie after another, get out Oblunder !!!! u wont be missed

        August 22, 2012 at 4:45 pm |
      • Caramon

        The government first started deficit spending around 1900. It has continued to grow since then. So, you are correct that the entire deficit is not the Presidents fault. However, he has been increasing the deficit more than 1 trillion each year since in office. It is a huge increase to the deficit with no plans to turn it around.

        The war in Iraq is not the main cause. One of the primary reasons for the crash of the economy was the sub-prime mortgage from Frannie Mae. Democrats own this one. Frannie, supported by the Democratically controlled Congress was funding Frannie who gave mortgages to people who could not afford them. Congress had been warned. Barney Franks in particular did not do anything. Then the housing market burst and so did the economy.

        August 22, 2012 at 5:09 pm |
      • jean2009

        The only reason the bag is getting bigger and bigger is John Bonehead is holding in the air.

        August 22, 2012 at 7:55 pm |
    • Eddie

      Ok homey, the hand of the president is very limited In case you are in to politics, which I don't by the way. Congress makes all the budget decision, if the president proposed an idea to improve the economy everyone in the house need to agree and guess what, do you thnk your white boy Mitt Romnay agree even he thinks the president idea could improve the economy of the country, the answer is a BIG NO!!!!! so if the republicans don't agree the president can't promote his idea, which by the way you the people is affected, when the republican take a money bath, you will be struggling to make penny, see the picture. Republicans don't care about people like me and you. All they care is to get the commander in chief out of the white house, and that will not happen I gave you my word. Go to communist country and see how the president make decision and then come back try to talk our president.

      August 22, 2012 at 11:50 pm |
    • Eddie

      These is directly to Steven and bb, you two are skum of this country. Don't call your self American Cuz you are not. Disrespecting the president is a serious offens to start with. The president had made a lot of change to the economy the best way he can. Another skum of the earth is the republicans who is always on the president face when he makes a proposal. He made a proposal for the auto industry and that sky rocket th auto market, did any one of you commented on that, NO. With the president decision th world number one terrorist has been erased from from all americans head, what a relief did you say that, NO. If you have a family member that you lost during September 11, you would not criticize the president. The number one cause of the economy lose is the war that the nasty republican started in iraq and Afghanistan which wipe the entire economy out of balance, so get your fact before you talk shit about the president. LOSER!!!!!!!

      August 23, 2012 at 12:19 am |
      • Steveo

        Yo Eddie,

        Stop crying! I don't call the President names. I don't like the leftist tilt of his policies, which AS AN AMERICAN, I have every right to do so! While you sit behind you keyboard in you bedroom, you KNOW that I am not an American? Prove it!
        You challenging ANYBODY calling Romney ot Ryan names? Show me where you did!

        "your white boy Mitt Romnay" THIS IS ALL I NEED TO KNOW ABOUT YOU!

        One last thing Partner, 9-11 has NOTHING to do with President Obama! President Bush was in office!

        Your talk about me getting facts straight? Here is a straight fact! That war you are complaining about was voted for by:
        Kerry, Clinton, Edwards and a host of DEMOCRATS!

        You don't have to agree with me at all.. But I laid out a laundry list of unkept promises. Feel free to ignore them if you will.

        August 23, 2012 at 8:42 am |
  3. italmn

    Mabe if the GOP worked w/ Pres. Obama and passed the Jobs Act the economy wouldn't be the way it is. And the Bush Taxes were extended 2 years ago and not 1 job was created. The Tax cuts need to expire for the wealthy and extend for the middle class. We should let it go over the Cliff and start over and re-wright the whole thing w/ Taxes raised on the wealthy and decreased for the Middle Class. Let it go over the Cliff !

    August 22, 2012 at 3:00 pm |
    • Caramon

      It would be nice if both sides worked together. Considering the partisan divide, it isn't going to happen. After some research, I do not believe the Jobs Act would have worked. It had some obvious flaws including temporary tax credits to small businesses that hire. The problem is the word temporary. Businesses need something more permanent for incentive to hire. Some large businesses have money. But uncertainty prevents them from hiring. Uncertainty in ACA, regulations and future taxes.

      Expiring tax cuts to those making over 250K will do nothing to the deficit. The CBO reported this would increase revenue by 700 billion over the next ten years. Annual revenue of 70 billion would not put a dent in the 1.1 trillion deficit increase in 2012. We are moving closer to a 50-50 split where half the country pays and the other half receives. It is difficult to cut taxes for people who pay nothing.

      Good comments though.

      August 22, 2012 at 4:22 pm |
    • Frank Marshall Davis

      Stephanie Cutter just said that Obama has created more jobs than Reagan. I'm sure you believe it hook, line and sinker.

      August 22, 2012 at 4:38 pm |
    • Caramon

      According to Forbes, Ronald Reagan created about 350K jobs each month on the average. President Obama created less than 150K jobs each month. However, population growth is out numbering job growth at present. I think Stephanie Cutter is wrong.

      August 22, 2012 at 4:48 pm |
      • Eddie

        I don't know about that statistic, but I know this, Ronald Reagan was not trying to fix the economy that has been demolished by the republicans, but president Obama is, which will bring as to cutter comment in regarded to that. Creating job In a well balanced environment is not equal to job creation In a tuff critical situation. Thank you.

        August 23, 2012 at 12:34 am |
      • Caramon

        Eddie, you are aware that the beginning of 1980 was far from a balanced environment. Unemployment was rising and continued to rise until it was over 10 percent. Inflation was over 13 percent with interest rates over 20 percent. In additional, the population was lower. I have read some economic reviews that compared the present recession with what Reagan had to deal with. Many feel it was worse because of the high inflation. And don't forget that Reagan had a Democratically controlled Congress.

        Creating 350K jobs a month was the result of policies that strengthened the economy and got the workers back to work. Welfare and increased dependency on government handouts, how does this help anyone? In the first 2 years of the Obama Presidency, the Republicans couldn't stop a leaky toilet. They were in the minority on both houses.

        August 23, 2012 at 11:06 am |
    • mfb

      just what is a "Jobs Bill?" unless the federal government directly hires or spends more money it doesn't have on no return social welfare programs, there is no such thing as a "Jobs Bill." Private companies must hire in order for our economy to mend – they will only do that when there is enough demand for the products produced or services provided and they can afford to do so.

      August 22, 2012 at 6:48 pm |
    • Lizzie

      So how many jobs will you create???? Or are you one who warms a chair everyday and complains how hard he works.
      America was built by people striving to become rich and independent, now the majority asks how much can I get FREE.

      August 22, 2012 at 6:51 pm |
  4. Howard

    Biden the Baffoon, has no respect for our government, the voters, or the office of the Vice President.
    He should be tarred, feathered and run out of town on a rail.

    August 22, 2012 at 3:01 pm |
    • DEcember 2012

      IS THAT YOU RUDY GULIANI? OH COME ON MAN, LET BYGONES BE BYGONES.

      HAHAHAHAHAHAHAHAHAHAHAHAHAHA!

      August 22, 2012 at 3:09 pm |
    • Frank Marshall Davis

      Very true, Biden is an idiot and proves it almost every time he speaks.

      August 22, 2012 at 4:37 pm |
      • mfb

        but when he does speak, you can't discount the comedic value – "Stand up Chuck!"

        August 22, 2012 at 6:51 pm |
      • Lizzie

        But he is second in line to become PRESIDENT. Scarry ain't it.

        August 22, 2012 at 7:06 pm |
  5. Ray E. (Georgia)

    So why are we talking about a fiscal cliff again?? Why are we looking at a return to the 1930's again? Franklin Deleno Roosevelt's New Deal was supposed to fix everything. Lyndon Baine Johnson's Great Society was supposed to fix everything. Obama Care is supposed to fix everything. So why, prey tell are we talikng about a Fiscal Cliff??

    August 22, 2012 at 3:50 pm |
    • Steveo

      Folks were upset at Mayor Bloomberg for banning Big Gulps in NYC. We should be banning Big Gulps (lies) in DC!

      August 22, 2012 at 4:17 pm |
    • TheLoneStar

      "PREY" ha ha ha ha ha ha ha another illiterate Tea Bagger.

      August 22, 2012 at 4:40 pm |
    • Cynthia L.

      NBC/ Wall Street Journal Poll today:
      50% Favor Obama Plan For Economy
      34 % Favor Romney Plan For Economy
      CBS reporting on the Congressional Budget Office report today saying that Republicans desire to avert the $55 Billion in planned reductions at the Defense Department in January BUT the Offical Republican Party Platform does not address the equally stark $55 Billion across the board cut scheduled to hit domestic programs OR OFFER GUIDANCE on how to avert the cuts without worsening the deficits.-

      Maybe, Congress will stand naked before the nation and admit they've screwed around far more than they should have. America and the Democrats won't be putting up with the scare tactics anymore.
      Take it over the cliff.
      The Bush tax breaks for the rich will expire and go back to the Clinton Tax Rates. AND, the myth that the government 'does not' create jobs will be proven to be false when the economy takes a dive along with the jobs outlook. Loan rates will drop and we will once again pull ourselves up while giving the finger to the GOP.
      Not the end of the world but then, Republicans always play the boogie man thinking we don't know the score.

      August 22, 2012 at 11:24 pm |
      • Howard

        MORE RUMOR MONGERING FROM THE OBAMA STOOGES. AGAIN, SINCE OBAMA HAS NO RECORD TO RUN ON, HE, AND THE THUGS WHO SUPPORT HIM, STOOP TO WILD ACCUSATIONS AND BASE INSULTS.
        DON'T FALL FOR THE OBAMA B.S. ... SAVE AMERICA ... ELECT ROMNEY & RYAN IN NOVEMBER !!!

        August 23, 2012 at 1:05 am |
      • Cynthia L.

        @Howard Latina/diana conjoined after birth -
        Your guys are nervous and KNOW THAT THEY WILL BE BLAMED. Just cause you don't care to find out these things Howard Latina/diana, and just spill your guts of daily bile because you hate Obama, doesn't change the facts. You can't keep people from finding the real truth and it's out there in plain sight, given by experts EVERYDAY.
        Gonna love to see ol' John Boehner and ol' Mitchie McConnell take the shaft they deserve. Americans are sick of their non-interest in their lives and sick of their politics. You asked for it kiddos, and here it comes. And nobody did it to you but yourselves and your inept abilities to govern. Losers. Your Mittster Monster doesn't have a plan, you haven't asked him if he has a plan, he just has money to stuff in your ears with his SuperPacs and his own garbage ads and campaign lies. NEWSFLASH – It's not working. People are going to be pissed off because you guys are the cause of this country backsliding when it didn't have to happen. Buh-Bye.

        August 23, 2012 at 2:17 am |
  6. hesea

    Obama had total control for the first two years and other than Obama Care nothing. As Stevo explained even his own party wouldn't approve it.
    With regards to taxing the 1% unfortunatly I'm not one. If it would even put a dent in the deficit I'd be for it, but we all know it's just Obama trying to look like it's meaningfull and he is out for the middle class.

    If he wanted to save us do something about jobs and the deficit. Even if he had a plan for the deficit it would instill some confidience and that in itself would help. Nothing to address the major issues for 3.5 years, no wonder there is a lack of consumer and business confidence.
    He may not have started building this mess but he hasn't done a thing to turn it around. Next!

    August 22, 2012 at 3:53 pm |
    • Lizzie

      May I remind you that the democrats took control of the senate in 2006 and the spending spree started, no budget just resolutions, Senator Obama became the champion of filibusters, called Pres.Bush UNAMERICAN asking for an increase in the debt ceiling, called it a disgrace for ONLY creating 500000 a month having a 6% unemployment rate, now we lose jobs every month, unemployment been over 8.3% for his entire term, he raised the debt ceiling by TRILLION compared to Pres.BUsh, and tells everyone the private sector is just doing fine, GOVERNMENT needs to increase, and you minions shout hallelujah and he is great.

      August 22, 2012 at 6:57 pm |
  7. november2012

    FACT isle are in a mess and obama is president. He has done nothing but spend us in the hole and has thrown the EPA, IRS, and every road block he can find in the way of private enterprise...no private sector jobs and you can plan in a second dip recession (as if we really got out of the last one).

    No one would have hired obama based on his resume'...he has done nothing but promote himself through racial division and class envy, has never been a success in anything...law or legislatively. So now lets learn from our mistake and send him back where he came from and elect an adult president/.

    August 22, 2012 at 4:17 pm |
  8. Frank Marshall Davis

    We already know Obama's reaction, "Let's spend more money".

    August 22, 2012 at 4:36 pm |
  9. TheLoneStar

    We know RobME's solution. Cut taxes for the rich and hide the money in off shore accounts.

    August 22, 2012 at 4:41 pm |
    • Lizzie

      Just like Prince Harry Reid, who has offshore accounts to avoid taxes, gotten by illegal means of prostitution, so the story is told in Nevada. But nothing will happen to him he will claims immunity from prosecution being a member of congress and a DEMOCRAT.

      August 22, 2012 at 7:09 pm |
  10. TheLoneStar

    We know RyAYN the deficit hawk who voted for all the bailouts and wrote letters to have money sent to his district.

    August 22, 2012 at 4:42 pm |
    • Lizzie

      No, it was the stimilus, the one were most of the money went to those shovel ready jobs, to repay Unions and fundraisers for their support. Ryan ask for grant money for two Wisconsin energy conservation companies one got money to help and improve homes and businesses energy efficiency.

      August 22, 2012 at 7:24 pm |
  11. Yomi Olalere

    Given the attitude of the congress towards the economy and their unwillingness to consider Pres. Obama's Job initiatives, here is my question, how would Romney create 12 million Jobs through a polarized congress?

    Could he have done anything better if he were the President at this point in time?

    Anyone care to answer?

    Americans need to give Obama/Biden the better tools to work with by voting in Democrats into the house and send the other party out on the queue.

    August 22, 2012 at 4:58 pm |
  12. mfb

    Maybe it would be a nice start for the president to submit a realistic budget proposal to Congress that would get, let's say, even one vote. I mean really, he could not get even one member of his own political party to cast a "yea" vote on hist last two budget proposals?

    August 22, 2012 at 6:54 pm |
    • Lizzie

      Don't you know this President leads from behind. He turned over the jhealtcare to Pelosi and Reid and they went wild. He waited till the last minute for the extensions of the Taxcuts, he waited till the last minute to ask for a increase in the debt ceiling and our rating got downgraded and he blamed the republicans, he led from behind in Libya and then took credit for the outcome. He leads from behind so if something goes wrong he can't be blamed and if something goes right he takes the credit. He already had the fall guy lined up in case the Bin Laden raid would have gone wrong.

      August 22, 2012 at 7:40 pm |
      • Eddie

        Lizzie's I don't know were you found you fact, but it is confused.

        August 23, 2012 at 12:52 am |
  13. mpd

    Contrary to what others have stated here a budget is passed every year. A budget not being passed during Obama's time in office is a republican talking point.

    i think Obama deserves some credit for dealing with the myriad of issues regarding the economy and job creation with what he had to work with. As most people know, congress and the senate makes most of the choices. It is congress responsibility to create and pass bills for ratification by the senate. We all know that the Republican congress focused on new legislation that restricts a woman's right to choose. While the congress also enjoy's it's lowest approval rating ever.

    People know the the republican Congress has for the most part been obstructionists. Hence the low approval ratings.

    August 22, 2012 at 8:10 pm |
  14. GOP minions

    Look at at all the GOP minions posting today. That's right obey the GOP machine. Good minions!!!! Vote against your own interests little minions!!! You're poor but still vote for the rich. Obey your masters!!!! Atta boy minions!!!

    August 22, 2012 at 8:42 pm |
  15. crystalangel336

    Funny how the home republicans fall for their politicians statements without looking up the facts. Much of the deficit we keep incurring is due to the Bush administration policies. Look it up. Percentage wise, the deficit has went up less then when Bush was president, plus much of it is due to Bush. Obama has made progress despite the fact that republicans have fought him tooth and nail, wanting more for him to fail then to help America. Republicans have done more fillibusting then ever in history, making sure that they take the economy down with them rather then let a black president succeed. It is sickening, and you people at home with the lower IQ's are sickening too. If you look at the true facts, not just what Obama says, or Romney says, what the republicans say, what the democrats say, you will know you are wrong. Give up your racist ways and start thinking about your country for a change.

    August 23, 2012 at 1:25 am |
    • crystalangel336

      You are falling for the republican scare tactics. The politicians that are in the wealthiest of the country pockets.

      August 23, 2012 at 1:27 am |
      • Steveo

        As much money George Soros gives to liberal causes? You say nothing about that? Open you eyes, Money flows on BOTH sides! You denying it DOES NOT make it go away!

        August 23, 2012 at 8:45 am |
  16. BLKMANnAmerica

    WHY on earth do the repuks continue to try and stick everything on President Obama. There was a time in America history (past and not so distance present) when Congress had obligation to run a part of the Federal government. What happened to Congress being the Legisaltive branch of government?

    August 23, 2012 at 10:38 am |
    • Steveo

      You are correct actually. Yet that SAME reasoning did not stop ANYONE from hammering Bush, remember? Reid was Senate leader and Pelosi was House Leader and all under Bush for a period of time. NONE of this is new! You blame who you call "repukes" but said diddly when Pelosi did SAME thing? Really?

      August 23, 2012 at 10:47 am |
    • Ray E. (Georgia)

      I think it is Harry Reid that refuses to take up the Budget. Why? Because even most of his party will not support anymore big Liberal Policies. The Liberal's have left you without a Parachute. So when you jump it is going to be a hard landing. The latest Jobs Report is still dismal. Want More? Vote Obama, Vote more Red Ink.

      August 23, 2012 at 10:49 am |